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The 10-Point: My Guide to the Day's Top News

The Wall Street Journal
Good morning,
Divergent Views
Donald Trump’s picks for top national security posts have diverged from the president-elect’s positions on key issues during confirmation hearings a week before the inauguration. Retired Gen. James Mattis, the secretary of defense nominee; Rex Tillerson, named to be secretary of state; and Rep. Mike Pompeo (R., Kan.), the CIA director nominee, all made statements at the hearings that differed from views Mr. Trump has expressed, staking out positions that might help them win approval from the Senate but could set them on a collision course with the incoming White House. Gen. Mattis expressed little hope that Washington would develop a substantive partnership with Moscow, as Mr. Trump has suggested. Meanwhile, we report that three Republican senators—Sens. John McCain, Lindsey Graham and Marco Rubio—have lingering concerns about voting to confirm Mr. Tillerson.

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Fooled by Fiat?
U.S. regulators accused Fiat Chrysler of using software on its diesel-powered Jeep Cherokees and Ram pickups that allowed them to spew illegal amounts of pollution into the air, the latest broadside from the government over emission standards. The EPA delivered a violation notice to Fiat Chrysler accusing it of using illegal software in 104,000 vehicles. The accusation could cost the company $4.63 billion in fines, the EPA has estimated, which is equivalent to the cost of building a couple of new assembly plants or developing new product programs. Officials stopped short of saying Fiat Chrysler’s software was designed to cheat emissions tests, but they said they were continuing to investigate why the car maker failed to disclose the software and whether it was intended to fool regulators.
No Easy Cure
Congress has begun the work of replacing the Affordable Care Act, and that means lawmakers will soon face the thorny dilemma that confronts every effort to overhaul health insurance: Sick people are expensive to cover, and someone has to pay. The 2010 health law forced insurers to sell coverage to anyone, at the same price, regardless of their risk of incurring big claims. That provision was popular. Not so were rules requiring nearly everyone to have insurance, and higher premiums for healthy people to subsidize the costs of the sick. If policyholders don’t pick up the tab, who will? The available options all have downsides. Mr. Trump and GOP leaders on Capitol Hill pledged this week to move swiftly to not only repeal but also replace the Affordable Care Act, but it will be a difficult promise to keep.
And Then There Were Two
After two decades of arguing that the league didn’t need Los Angeles, the NFL is doubling down on Tinseltown. The San Diego Chargers on Thursday said the team is heading up the coast to Los Angeles, the country’s second-biggest market and a city that only last year welcomed the Rams from St. Louis. The move caused an outpouring of grief in San Diego, where the team was based for 55 years, and capped a tumultuous 12 months for the NFL in which three of its franchises either moved or took steps to do so. In a big gamble, the NFL has now tethered the futures of two struggling franchises to the sprawling Los Angeles metropolitan area that previously failed to support professional football and features a bevy of other entertainment options.
TODAY'S VIDEO
A Surprise Honor for Biden
That Was Painless
In a special send-off, President Barack Obama surprised his vice president, Joe Biden, by awarding him the Presidential Medal of Freedom, the highest civilian honor in the U.S.
TOP STORIES
U.S.

Federal Reserve Shows Greater Unity on Path for Interest Rates

California Storms Bring Destruction and Drought Relief
WORLD

European Elections Test ECB President Mario Draghi

Exploring a Brexit That Isn’t Binary
BUSINESS

Amazon Touts Job-Creation Plans, Patching Up Rift With Trump

Takata to Plead Guilty to Criminal Wrongdoing in Air-Bag Probe
MARKETS

Life Insurers Draw on Data, Not Blood

The Market Has Already Started to Dump Trump
NUMBER OF THE DAY
$1 billion
The approximate amount that billionaire hedge-fund manager George Soros lost as a result of the stock-market rally spurred by Mr. Trump’s surprise presidential election. Stanley Druckenmiller, Mr. Soros’s former deputy who helped him score $1 billion of profit betting against the British pound in 1992, anticipated the market’s recent climb and racked up sizable gains, according to people close to the matter.
QUOTE OF THE DAY
I hope very much he is able to share his conclusions and observations with the public because everyone will benefit from thoughtful evaluation and transparency regarding this matter.
FBI Director James Comey on the Justice Department’s inspector general launching an investigation into how Mr. Comey and his deputy handled probes into Democratic presidential candidate Hillary Clinton.
TODAY'S QUESTION
What are your thoughts on the investigation of the FBI Clinton probe? Send your comments, which we may edit before publication, to 10point@wsj.com. Please include your name and location.
—Compiled by Margaret Rawson
READER RESPONSE
Responding to yesterday’s question on Mr. Trump’s decision to put his assets into a trust and relinquish control of his business to his two adult sons, Dwaine Richter of Colorado said: “Those who are criticizing Mr. Trump for not completely disposing of his real-estate assets do not fully understand what they are asking him to do. He has assembled trophy properties that are irreplaceable and were created by a master. These assets are not comparable to stocks and bonds that can easily be replaced.” Steven Crowe of Idaho wrote: “I don’t think it is, or ever was, realistic for people to expect that Mr. Trump will sell all of his assets to become president. It is also not realistic to expect him to hand them over to someone unfamiliar with them to manage. I think his trustee should not be allowed to buy or sell any assets during his presidency.” Charles E. Dean of Minnesota shared: “It appears that the president-elect expects us to believe that this very close-knit family will become incommunicado after he is sworn in. The truth? He has developed a perfect conduit for sending information from the White House to Trump Tower, starting with a transfer to Ivanka Trump and Jared Kushner.” And Mark Blakey of Illinois weighed in: “How does putting your business in the hands of your own children eliminate any conflicts of interest at all? I simply don’t see a way to eliminate Mr. Trump’s potential conflicts of interest without the Trump family completely selling off its entire empire.”

This daily briefing is named "The 10-Point" after the nickname conferred by the editors of The Wall Street Journal on the lead column of the legendary "What's News" digest of top stories. Technically, "10-point" referred to the size of the typeface. The type is smaller now but the name lives on.

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